The bill, titled the Assault Weapons Ban of 2017, would ban the sale, transfer, manufacture, and importation of military-style assault weapons and high-capacity ammunition magazines.

The bill comes in the wake of mass shootings in Texas and Las Vegas. Feinstein says the bill will be introduced so the "American people will know that a tool to reduce these massacres is sitting in the Senate, ready for debate and a vote."

Feinstein clarified the provisions and exemptions of the bill on her website, stating the ban names specifically 205 military-style assault weapons to be sold and manufactured but allows owners to keep existing weapons under a grandfather clause.

The bill would also exempt more than 2,200 guns for hunting, defense, or recreational purposes.

Bans any assault weapon that accepts a detachable ammunition magazine and has one or more military characteristics including a pistol grip, a forward grip, a barrel shroud, a threaded barrel or a folding or telescoping stock. Owners may keep existing weapons.

Bans magazines and other ammunition feeding devices that hold more than 10 rounds of ammunition, which allow shooters to quickly fire many rounds without needing to reload. Owners may keep existing magazines.

Exemptions to bill

The bill exempts by name more than 2,200 guns for hunting, household defense or recreational purposes.

The bill includes a grandfather clause that exempts all weapons lawfully possessed at the date of enactment.

Other provisions:

Requires a background check on any future sale, trade or gifting of an assault weapon covered by the bill.

Requires that grandfathered assault weapons are stored using a secure gun storage or safety device like a trigger lock.

Prohibits the transfer of high-capacity ammunition magazines.

Bans bump-fire stocks and other devices that allow semi-automatic weapons to fire at fully automatic rates.